US job growth beats expectations in September, ‎unemployment rate unchanged

US job growth increased in September, indicating that the labor market remains strong enough to prompt the Federal Reserve to raise interest rates again this year, although wage growth is trending toward moderation.‎

According to Reuters, the Ministry of Labor said in its report on jobs issued today, Friday, which is receiving great attention, that non-agricultural jobs increased by 336,000 jobs last month, and August data was revised upward to show the addition of 227,000 jobs instead of 187,000 previously.

Economists polled by Reuters had expected jobs to increase by 170,000. Estimates ranged between 90,000 and 256,000

The increase came by more than expected despite the provisional jobs data for September tending to the lower level due to issues related to adjustment according to seasonal factors associated with the return of workers in the education sector to their jobs after the summer vacation.

The current strength of the labor market, 18 months after the US Federal Reserve began raising interest rates, indicates that monetary policy may remain tight for some time.

The unemployment rate remained unchanged at an 18-month high of 3.8%.

Most economists do not believe that the US Federal Reserve will raise interest rates again this year.

Monthly wage growth remained moderate, with average hourly earnings increasing by 0.2 percent after achieving a similar increase in August. In the 12 months to September, wages increased 4.2 percent after recording a 4.3 percent increase in August.

Wages are still growing faster than the 3.5 percent rate, which economists say is consistent with the US Federal Reserve’s goal of reaching two percent inflation.